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Business News of Monday, 7 February 2022


Our vision is to improve on travel and tour in Africa – Gbolahan Tobi Ayediran

Founder of Suit-U Travel and Tours Gbolahan Tobi Ayediran Founder of Suit-U Travel and Tours Gbolahan Tobi Ayediran

Gbolahan Tobi Ayediran is the founder of Suit-U Travel and Tours, a travel agency operating in Nigeria for four years now.

Could you tell us about your company?

Suit-U Travels and Tours is a travel company that was established in September 2018. Our operation is selling tourism and travel-related services to the public on behalf of different travel suppliers.

Ultimately the travel industry is focused on providing customers with the various services they need when moving from one location to another.

The tourism industry, as part of the service sector, has become an important source of income for many countries and regions. Our vision is to develop the largest diversified travel and tour organization in Africa by effectively utilizing our resources and improving our services.

Is the ongoing COVID-19 pandemic AND the work-from-home trend affecting your operation?

Covid-19 has ruined all previous narratives on development, lockdowns at the largest scale in human history as imposed by governments around the world to control the spread of the virus.

Yes, it has affected us as a travel agency because we were unable to sell travel needs, and the stay-at-home trend has compelled us to structure our work online.

What is your company’s growth strategy for 2022?

Our efforts are going into market penetration and diversification of our services. We are also looking at forging new partnerships by working with international organizations for tours, schools exchange programs, and such.

A good way to stay ahead of our competitors is to offer the best possible prices on a wide range of transfer services, car rentals, tickets for museums and attractions and excursions. With travel software, this is made simple through XML integration with different hotel systems (third-party systems). Combining different sources into a unique travel experience takes your service to the next level.

How will Africa develop as a knowledge economy in 2022?

We need to develop critical infrastructure. The lack of modern facilities – railways, electrical grids, communications, etc – in Africa costs the continent at least 2% in GDP growth annually.

We could also gain a lot from develop human capital and investing in our own skill-set and make education a top priority. Also a point to address is the growing population. In 2010, Africa was home to more than 1 billion people and our population is expected to double by 2050.

Reducing the number of births will alleviate poverty and directly increase the overall GDP per capita and result in a higher standard of living.

What are the opportunities for Agribusiness and Agritech in Africa in 2022?

For a long time, agriculture has been the mainstay of the African economy. It is a source of employment and livelihood for its people. About 60 percent of the sub-Saharan population are smallholder farmers, and 23 percent of the sub-Saharan GDP comes from just agriculture. Even with these figures, the sector’s
potential has not been maximized. Productivity remains a problem for the sector; many farmers lack access to arable lands, good-quality seedlings, fertilizers, and best farming practices.

To bridge the continent’s productivity deficit and meet the needs of its burgeoning population, many agritech companies have emerged across Africa and the possibilities seem endless. In 2020, agri-tech startups across Africa raised $59,990,000, representing 8.6 percent of the total funding secured by tech
startups in the year in review.

These startups use cutting-edge technologies like drones, automated irrigation, and soil sensors. They also set up digital systems to help farmers access markets, inputs, insurance, financing, and knowledge. All to one end - increased productivity. The numbers speak for themselves - Africa’s agribusiness and agritech is developing at an unprecedented pace.

Which 3 African countries will perform best economically in 2022?

I’ll say Mauritius, Rwanda and Morocco, in no particular order. Mauritius is unique in terms of doing business in Africa and has set the pace for other African countries. Placed 13th in the latest World Bank ease of doing business rankings, this small nation has solved most issues any investor would face.

It’s also a politically and socially stable economy that ranked 21st among
the most peaceful countries in the world. Its democracy is one of the strongest on the continent. Plus its tax laws are pretty attractive for investors. They also recently signed a trade agreement with China, making them a transportation and financial hub.

Since 2000, Rwanda's economy has grown at an average of 6% year over year. With a 76.5 rating, the Sub-Saharan African country ranks 38th on the World Bank's ease of doing business rankings. Rwanda is ranked number two in the world for ease of property registration, second only to New Zealand. In recent years, this East-African nation has implemented the most business reforms in Africa and has put in place electronic systems that have helped replace its stifling bureaucracies.

Taxpayers can now issue value-added tax invoices using free software. Morocco has also advanced well in the last decade. In less than ten years, the North African country has gone from 114th to 53rd on the ease of doing business rankings. Morocco has become Europe's pathway to Africa, also becoming a leading financial hub in the process. The country expects to grow 3.1% on
average in the next few years as its tourism and manufacturing sectors have been selected to drive economic growth.

Any information from your organization you’d like to share?

Suit-u Travels and Tours has a charity foundation called Giving Is Healing Foundation. The intent of the Giving Is Healing Foundation is to join hands with individuals, governments and other stakeholders to eradicate poverty through humanitarian support and more.

Our foundation focuses on community development efforts such as giving support to orphans and widows, skills empowerment for youths and improving living conditions in rural areas.

We have also been part of campaigns against irregular migration, drug abuse, racism and discrimination against persons living with syndromes.